Golf Cart Market Research Report – Global Forecast till 2030

Golf Cart Market Research Report: Information by Propulsion Type (Electric and Gasoline), Seating Capacity (Small, Medium, Large), Application (Golf Course, Railways, Hotels & Resorts, Multi-residential Complexes), and Region - Global Forecast till 2030

ID: MRFR/AM/6126-HCR | February 2021 | Region: Global | 100 pages

Golf Cart Market overview


Golf cart market is expected to grow at a 6.9% CAGR between 2018 – 2023.


The golf cart is basically a small motorized vehicle that is widely used to carry the passenger and other golf equipment. These carts are also used to carry less heavy items in shopping malls, airports, hotels, and other entertainment places. The prime purpose of these carts was to carry the kits and equipment of the golfers in the golf course to provide enjoyable and smoother rounds, now it is extensively used in commercial places including railway stations, zoos, office factory, multi-residential complexes, wildlife sanctuaries, theme parties, and exhibition centers.


According to the reports of the national golf foundation, there is a continuous growth of 6.4% in golf participation from the past few years. The increase in the demand for the golf cart depends on the enormous demand for the golf cart for the next five years. Municipalities in the developed countries of Europe, North America, and Asia-pacific are taking continuous efforts to minimize the pollution of air. The new version of the golf cart is the electric-powered version of the modernized vehicles which is very eco-friendly and highly preferred by consumers for its safety and other environmental benefits. The municipal authorities around the globe are focusing on reducing the usage of the harmful emission of electrical and hybrid vehicles because these types of vehicles are responsible for the smog, greenhouse emission, the expensive electric equivalents.


This report contains all the information on the global golf cart market research and the market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global golf cart market and forecast to 2023 is also included in the report. 


Covid 19 Analysis


The outbreak of the covid 19 increased the crises in the growth of the golf cart market; this study analyzes the impact of the pandemic on the global golf cart market growth rate in various scenarios. The impact of the covid 19 on the supply chain of the golf cart is huge, there are several measures taken by the golf cart companies to acknowledge the covid 19 pandemic. In order to compensate that the companies are manufacturing 2 seater carts, 4 seater carts, 6 seater carts, 8 seater carts, and so on. These new featured carts have additional features such as golf balls, tee holders, cup holders, waste bins, charging ports, refrigerator options, and air scoop.


The global impact of the covid 19 pandemics is expected to leave a strong impact on the growth of the global golf cart market, however, the factors like growing in the interest of golf cart, increase in the per capita disposable income, and leisure activities and sports activities are the major key factor that is driving the growth of the market.


Market Dynamic



  •     Drivers


The value of the global golf cart market was at US$3, 62.3 Million in the year 2017 and it is expected to reach a CARG of 6.3% during the forecast period which is between 2019-2027 and it is expected to reach up to US$ 5, 590.0 Million by the end of 2027. The major factors that are driving the growth of the global golf cart market are the rise in the development of the industrial sector and urban sprawl.


The increase in the investments by the resort owners and the hotel management are likely to drive the growth of the market. The comfort and the safety demands of the guests in the golf field and in the country clubs are some other factors that are is contributing to the growth of the market.



  •   Opportunities


The rise in the demand for the customized product by end-users, the capacity of the vehicles to carry more people and the art-conscious vehicles has offered enormous opportunities for the players. The global golf cart marketwas US$ 1.62 billion in the year 2018 and it is predicted to reach US$ 2.25 billion by the end of 2026 with a growth rate of CAGR of 4.2% from 2019 – 2026.


Golf carts are envisioned for the transport facilities for the golfers and their equipment within the golf field. The golf carts were designed for non-highways or for off-road transportation with a speed of 25 to 50km per hour. The uses of such carts in the commercial field have driven the growth of the global golf cart market. 



  •         Restraints


The high use of golf carts in the different sectors to reduce the cost of labor and time are contributing to the rise of demand for golf carts, golf carts for a comfortable and smoother ride for small distances are increasing the demand for golf carts in the non-premium and premium areas. The trends of innovative electric golf carts are expected to drive the growth of demand in the global market due to its lead batteries and save fuel efficiency. 



  •         Challenges


The rise in the demands of fuel-based vehicles which are the ultimate causes of the harmful gas emissions is hampering the growth of the global golf cart market revenue. Electric/chargeable/hybrid golf carts are slower in performance as compared to fuel-based cars, which is again a big challenge faced by the global golf cart market.



  • Cumulative Growth Analysis


The intense growth in the tourism and hospitality industries has driven the growth of the market. The golf cart market size is expected to raise a CAGR of 5% during the forecast period 2019 to 2029. The demand for the customized designed golf carts which has speed modification is highly in demand in the tourism and industrial sectors. The demand for personal golf carts has notably contributed to the growth of the golf cart market in the developed countries.


On the basis of the type, electric golf carts are expected to observe comparatively high demand as compared to gasoline golf carts. The key factor for the rise in the growth of demand in electric golf carts is zero carbon emission and eco-friendliness of electric golf carts.


Value Chain Analysis


According to the reports of the global golf cart market analysis, the market is segmented into four types that include seating capacity, propulsion type, region, and application. The report is based on a detailed analysis of the quantitative and qualitative aspects of the key players and industries.


On the basis of the seating capacity, the market is segmented into three types including small which is 2-4 seater, a medium which is 6 to 10 seaters, and large which is for more than 10 seaters. Based on the propulsion type the market is segmented into two sections one electric golf carts and the other is gasoline golf carts.


Segmentation Overview


The global golf cart market industry is segmented on the basis of seating capacity, application, types, and regions. This report gives a crystal clear vision of the market scenarios that include the value and volume of the market and along with that the advancement in technologies, forecasted market size and governing factors are playing major roles.


 By Application

Based on the application, the market is segmented into railways, golf courses, airports, hotels and resorts, multi-residential complexes, and others.

By end-users


Based on the propulsion types, the market is segmented into two types one is an electric golf cart and a gasoline golf cart


Regional Analysis


The global golf cart market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa, on the basis of the regional distribution. According to the reports the North America holds around 53% of the market share in the global golf cart market shares, in year 2018 and it is predicted to grow at a CAGR of XX% during the forecast period from 2019 to 2027. The take of the government on the adoption of electric golf carts for hotels and resorts is predicted to drive the demand for golf carts in the global market over the forecast period. Based on the analysis of CMI, the US has more than 15000 golf courses which are fueling the rise of the demand of the global golf cart market. 


Competitive landscape


The demand for the golf carts’ market value in the rental sectors is also influencing the growth of the market. These companies are utilizing the golf carts for internal transportation, due to that the key players of the markets are focusing on introducing GPS enable golf carts with lithium batteries.


Recent Developments



  •         The IMARC group is expected to contribute in the moderate growth of the market in the next five years.


Golf Cart Market by Fuel Type:



  • Gasoline Powered

  • Electric & Solar Powered


Golf Cart Market by Application Type:



  • Golf Course

  • Commercial Services 

  • Others 


By Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • UK

    • Germany

    • France

    • Russia

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia

    • Rest of Asia-Pacific



  • LAMEA

    • Latin America

    • Middle East

    • Africa 




Major Key players



  •         Ingersoll Rand, Inc.

  •         Yamaha Motor Company Limited

  •         Hitachi Chemical Co. Ltd.

  •         Textron Inc.

  •         Xiamen Dalle Electric Car Co. Ltd.

  •         Polaris Inc.

  •         Lvtong New Energy Electric Vehicle Technology Co., Ltd.

  •         Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd.

  •         Columbia Vehicle Group Inc., and Garia A/S.


Report Overview
The following report comprises of –



  • Market overview

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview

    • By Application

    • By End-Users



  • Regional Analysis

  • Competitive landscape



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   6.9% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Propulsion Type, Seating Capacity and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Yamaha Golf-Car Company (US), STAR EV (US), Garia A/S (Denmark), Bradshaw Electric Vehicles (UK), E-Z-GO (US), Marshell Green Power (China), Spoleman OÜ (Estonia), Polaris Industries, Inc. (US), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Speedways Electric (India), and Autopower (India).
  Key Market Opportunities   he rise in the demand for the customized product by end-users
  Key Market Drivers   The development of the industrial sector and urban sprawl


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Frequently Asked Questions (FAQ) :


The global golf cart market is predicted to grow at a 6.9% CAGR between 2018- 2023.

North America will lead the global golf cart market.

Increase in per capita disposable income and popularity of golf are the key factors driving the golf cart market.

Some key applications of golf cart include multi-residential complexes, golf courses, railways, airports, hotels and resorts, and others.

Notable players profiled in the global golf cart market include Yamaha Golf-Car Company (US), STAR EV (US), Garia A/S (Denmark), Bradshaw Electric Vehicles (UK), E-Z-GO (US), Marshell Green Power (China), Spoleman OÜ (Estonia), Polaris Industries, Inc. (US), Guangdong Lvtong New Energy Electric Vehicle Technology Co., LTD. (China), Speedways Electric (India), and Autopower (India).